Michael Kors is taking a huge (and very fashionable) step forward in the industry.
The once luxurious, now ubiquitous fashion company announced via press release Tuesday that it would be acquiring iconic footwear and accessories brand Jimmy Choo for $1.2 billion.
So our biggest question, of course, is: How many Jimmy Choos would THAT buy you?
It’s funny you should ask, because while espadrilles on sale from the designer cost a mere $200, many Jimmy Choo items such as these $4,595crystal-covered pointy toe pumps cost far more than a pretty penny.
It’s tough to get an exact estimate of how many pairs of Jimmy Choos $1.2 billion will get you, but luckily we have Lorelai Gilmore iconic television mother and light of Gilmore Girls to help put things into perspective for us.
In a 2003 episode of the quirky television series, Lorelai’s father gives her a generous birthday present in the form of a check for $75,000. She being a lady of aspiring luxury joyfully accepts the check and immediately equates the monetary value to 150 pairs of Jimmy Choos.
Using Lorelai’s math, a pair of the stylish stilettos cost $500, which means Michael Kors could have purchased 2,400,000 pairs of Jimmy Choo shoes for the price of acquiring the company. We’ll let you do the math on how many years it would take a person to wear all of those.
As Reuters reported, Michael Kors has lost around 65 percent of its market value since 2014 due to steep competition, so perhaps buying a brand that’s graced red carpets and dazzled Sex in the City fans will help get the company back on track.
“We admire the glamorous style and trendsetting nature of Jimmy Choo designs. We look forward to welcoming Jimmy Choo to our luxury group,” Michael Kors, Honorary Chairman and Chief Creative Officer of Michael Kors, said in the release.
So does Lorelai, Michael. So does Lorelai.